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Short

AUDJPY Potential Short Signal Update

FX:AUDJPY   Australian Dollar/Japanese Yen
TRADE UPDATE
Previous analysis:
AUDJPY Potential Short Signal

Please see original analysis linked above for in-depth explanation of our long bias.

We are still awaiting a break below and close below this blue short-term up trend line on the hourly chart to execute a short position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a move to the downside with a chance prediction of 85% or higher. Currently our algorithm is predicting some consolidation with a chance performance prediction rate of 82%, but we will continue to monitor price action and the updates from our algorithm. If the signal to go short comes through we will be sure to update you!

See the link below for an image of our algorithm's forecast for this pair.
http://i.imgur.com/eqNUhEi.png
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